In today’s highly competitive business world, startup companies often find it difficult to establish their niche and survive in a crowded field. Advances in technology make it easier for startups to compete and make their operations more efficient.
Understanding how to apply new technology to your startup requires some time and thought. Examining the current tech landscape and deciding how to incorporate the latest advances into your business model should be part of the planning process.
Here are three new technologies that impact startup companies around the world and examples of companies that are applying these emerging paradigms.
1. Artificial Intelligence
While AI has been a part of the technology world for some time, startups are constantly creating new ways to use it. Machine learning, a specialized type of artificial intelligence, helps computers adapt to new duties and new information. Natural language processing enables computer programs to respond to human inquiries in a seamless fashion. AI can also be used to organize information and to glean insights from large volumes of data.
Startups using AI and machine learning in new ways include Augury, Avora, and Exceed.ai.
Augury is involved with combining real-time information from manufacturers’ machinery with AI and machine learning. The company allows manufacturers to gain new insights into how their factory floors are working and offers ways for manufacturers to improve their operations by reducing malfunctions.
Avora provides a platform where the average end-user can utilize sophisticated analytics. The company’s programs make the complexity of AI analysis easy to use and understand, bringing its power to employees who would not handle using more technical software.
The company’s platform allows sales and marketing professionals to take advantage of the amazing processing power of AI systems. The platform can extract the context of sales leads and contact customers by text or email in an automated fashion, taking tedious tasks out of the hands of sales and marketing personnel.
The number of tech startups using blockchain in unexpected ways continues to grow. Today’s startups use blockchain to go significantly beyond cryptocurrency.
Blockchain has become especially important in the developing world, offering increased access to financial services in rural areas with very few traditional banks. The technology creates a secure ledger of all transactions, making financial information safe and proving a chain of ownership.
OriginStamp allows users to protect their proprietary documents in a one-click process, ensuring that end-users can certify their originality. After documents are uploaded to the platform, the blockchain ledger is updated without the possibility of later tampering.
Genomes allows people to take ownership of their sequenced DNA. The DNA information is stored in the Ethereum blockchain network, ensuring its security. The company may allow users to rent out their DNA to researchers in the future.
Provenance helps track an e-commerce company’s entire supply chain from raw materials to the paying customer. The company has won awards for its social entrepreneurship.
SaaS has continued to develop over the past several years. Centralized processing allows companies to back up their data securely and utilize programs on a subscription rather than running the programs on their machines.
Some tech startups using SaaS in new ways include CoSchedule, CompStak, NeonCEO, and Seamgen.
CoSchedule is a marketing platform that helps companies organize their efforts for the best results. Its product is similar to project management software, but it is specifically targeted at the marketing arena. The software targets audience and traffic.
CompStak is for commercial real estate professionals. It is used to compare real estate metrics over a period of years, making sure that companies make the maximum profit from their properties. It is helpful for appraisers, brokers, investors, and property experts.
NeonCEO was created by Bennet Schwartz, and it helps startups organize themselves for action and develop sophisticated websites for their new businesses. The company also provides a platform for searching for and hiring new talent.
SeamGen allows its clients to build their web and mobile apps using its proprietary SaaS interface. Many companies do not have the programmers needed to develop their own platforms, and outsourcing this function can help them a great deal.
Breaking New Trails In The Tech World
These startup companies are using newer developments in technology in novel and profitable ways. Understanding how startups can apply new technologies and use them to create successful business models requires research. Many other advances complement technologies like AI, blockchain, and SaaS. Using these companies’ examples, new startups can search out their own market niches.
If you are interested in even more technology-related articles and information from us here at Bit Rebels, then we have a lot to choose from.